Success in Negotiating Lower APRs?

[Anonymous]

How many of you have had success when calling to lower the APRs on your cards?

A couple months back I tried lowering the APRs on my B of A Visas through online chat with no luck. Next I tried calling the customer support line. Originally, the CSR gave me the whole "your account is automatically up for review every six months blah blah" spiel. I asked to speak to a manager, and eventually I was able to reduce the APRs on both cards.

My Platinum Plus Visa was reduced from 14.24% to 12.99%, and my Cash Rewards Visa was reduced from 22.99 to 19.99%. I plan on calling to try and drop the Cash Rewards rate again in a few months.

My brother-in-law tried the same thing with his US Bank cards with no luck. They were absolutely not willing to budge one inch.

Anyone had luck with particular banks or cards? Conversely, has anyone politely been told to kick rocks?

[Skye12329]

Only luck i have had was with my Elan card. Got "close" with Discover, they said i need to wait till my promo is ended then ask again.

[MissMoni223]

Believe it or not, Capital One has granted me an APR reduction via the EO.

[Anonymous]

What is an EO?

[Skye12329]

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@Anonymous wrote:

What is an EO?

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Executive Office

[Ghoshida]

I got 4% APR reduction on each of my Sallie Mae Mastercard and Citi Dividend cards. Discover offered me a choice between 2% permanent reduction or 12 months of 0% promo, I chose the latter. Cap One only offers a 4% temporary reduction, need to go to the EO. All this happened last week.

[longtime_lurker]

In response to this thread, I went ahead and live chatted Discover, went from 17.99 to 16.24 in about 2 minutes total. Super easy with Discover. If I remember other threads correctly, AMEX is similiar. 

Good luck

[Anonymous]

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@longtime_lurker wrote:

In response to this thread, I went ahead and live chatted Discover, went from 17.99 to 16.24 in about 2 minutes total. Super easy with Discover. If I remember other threads correctly, AMEX is similiar. 

Good luck

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Awesome! We sometimes get so caught up in perfecting our credit score for future cards/loans that we forget about saving money today (myself included) .

[longtime_lurker]

Admittedly, I'm very lucky to not have CC debt right now, and if I did, it would definitely be on my CU CC (no BT fees and 8.9% fixed). However, lowering Discover in particular is a semi priority to me, because I know their lowest rate for the IT is quoted at 10.99. For a rewards card, that is the lowest APR that I have seen (even my CU's rewards card's - straight 1% - tier 1 interest rate is 13.9%)